KEVIN GUNNIP Barred by FINRA

Morgan Stanley Wealth Management was fined $949,574, which included customer restitution, for allegedly failing to supervise a registered representative who allegedly traded corporate bonds excessively and preferred securities for five years.
The Financial Industry Regulatory Authority (FINRA) stated that despite receiving hundreds of alerts, and in a compliance review concluding that their broker’s recommendations were costing his clients “more money than they are making,” Morgan Stanley allegedly only checked with the clients to see if they were satisfied and let the trading pattern continue, according to FINRA.  FINRA stated that there were ten clients who suffered losses over $900,000.
According to an article in AdvisorHub, a person familiar with the Morgan Stanley sanctions confirmed that the broker was allegedly, KEVIN SCOTT GUNNIP (KEVIN GUNNIP, SCOTT GUNNIP) CRD#: 2701801. Morgan Stanley signed a document, without admitting or denying the findings, identifying the broker who made the alleged unsuitable short-term trades by his initials, KG.
In September of 2019, Kevin Gunnip was barred by FINRA for allegedly failing to cooperate with a FINRA investigation. Gunnip was with Morgan Stanley for the entire 22 years he was registered in the securities industry, in Ft. Worth and Southlake, Texas.
According to FINRA, without admitting or denying the findings, Kevin Gunnip consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA in connection with its investigation of allegations that Gunnip engaged in unsuitable short-term trading of long-term securities.
FINRA’s BrokerCheck states that in February of 2018, Kevin Gunnip voluntarily resigned from Morgan Stanley after, “Allegations about whether the representative may have executed some transactions for non-discretionary client accounts without confirming the trades beforehand in all cases.”
Morgan Stanley agreed to a $175,000 fine and to pay $774,574 in restitution to eight clients who suffered financial losses due to the broker’s trading from January of 2012 through December of 2017.  According to reports, Morgan Stanley previously reached settlements with two other clients.
According to FINRA’s BrokerCheck, Kevin Gunnip also has 3 Customer Disputes on his CRD report.  All have settled following allegations of, in part, “unsuitable investments and excessive trading.”  One of the claims in 2017 settled for $614,000.00.
Kevin Gunnip was listed in the securities industry for 22 years and was listed most recently with the firm below:
06/01/2009 - 03/22/2018  MORGAN STANLEY - SOUTHLAKE, TX
If you’ve experienced losses due to the actions or recommendations of Morgan Stanley and or their former registered representative, Kevin Gunnip of Southlake, Texas, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents clients nationally before FINRA. No fee to you if no recovery.